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Author: Small Business Expert | January 16, 2023 | Topic: Used Equipment
Do you have a backhoe loader, excavator, bulldozer or another earthmoving machine that has served your company well over the years but is starting to show its age? Is a piece of equipment you no longer need taking up valuable storage space and collecting dust?
Regardless of the reason for moving on, you need to know what to do with old heavy equipment when it outlives its usefulness. Fortunately, you have several choices that can provide practical, cost-effective solutions for your business.
How to Get Rid of Old Heavy Equipment
Your options for disposing of machinery include:
1. Trade-in
Have you had your eye on a brand-new Cat® machine for a while? You can use the old model to defray some of the purchasing costs. The Cat dealer in your area will provide a fair valuation for your used product, even if Caterpillar didn’t manufacture it. In return, you’ll get access to updated technology that will enable you to get more work done in less time.
2. Consignment Sale
You can put more cash in your business’s coffers by selling your old equipment. Your Cat dealer may offer a consignment program that saves time and hassles. With this arrangement, the dealer takes possession (but not ownership) of the machine and handles the entire sales process. When someone purchases the model, you'll receive an agreed-upon percentage of the sale price. NOTE: Not all Cat dealers offer consignment, and the consignment process varies by dealer. Check with your local dealer to see what option works best for you.
3. Auction or Equipment Broker
A heavy equipment auction offers another convenient avenue for selling your used machine, especially if you have an in-demand model that commands a higher price and more attention. An equipment broker with numerous industry connections can often connect with qualified buyers fairly quickly.
4. Sell for Scrap
If your machine has seen better days and is near the end of its life cycle, your local junkyard or recycling facility should take it off your hands.
5. Certified Rebuild
Not quite ready to get rid of your old machine? If it’s a Cat product, your Cat dealer can give it a second life by performing a Cat Certified Rebuild. Cat Certified Rebuild equipment is covered by a 12-month Caterpillar Limited Warranty on new parts and components installed during the rebuild. Limitations may apply. Contact the authorized Cat dealer for complete details about the applicable Caterpillar Limited Warranty.
Contact Your Cat® Dealer to Learn More
The Cat dealer in your area can provide more helpful suggestions regarding how to dispose of old machinery. Give them a call or contact them online today. And if you’re in the market for high-quality used equipment, check out the extensive Cat Used inventory consisting of models for construction, mining, agriculture, power generation and much more.